According to the Future Market Insights (FMI) Yearly Medical Loupes Tracker, the global market for medical magnifying glasses will return to healthy growth in 2021 after a decline during the first and second quarters of 2020.
FMI estimates that shipments of medical magnifying glasses will grow rapidly at a CAGR of 5.4% from 2019 to 2029 as manufacturers and customers continue to invest in technology.
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“The medical device industry has a constant need for advanced products. Safe and cutting-edge medical equipment saves patients’ medical expenses. Medical magnifiers are becoming more and more advanced in terms of magnification, product weight, and high-power optics. Technology-based innovation allows market participants to increase revenues, expand margins, and pursue new revenue lines through innovative business models,” says analysts at FMI.
Medical Magnifying Glass Market Size Study
- Medical Magnifying Glasses Sales will Increase at a CAGR of 5.4% during 2019-2029.
- Flip-up magnifiers continue to hold a major revenue share of around 60%.
- About 6 out of 10 medical magnifying glasses to be sold will be equipped with Galileo lenses due to their high magnification, minimal weight, and easy use.
- Adoption of medical magnifying glass will remain high in surgical procedures until 2029.
- Through the lens (TTL)
- magnifying glass flip
Impact of COVID-19 on Medical Loupes Market
The impact of the COVID-19 pandemic has had a negative impact on the medical magnifying glass market as several cosmetic procedures, such as liposuction, breast implants, and non-essential dental procedures, have been delayed due to epidemic-induced restrictions.
To make room for limited space for individuals receiving treatment for COVID-19, hospitals have postponed or canceled several elective surgeries deemed particularly non-urgent or non-essential.
Recent estimates show that 15-30% of elective surgeries were canceled in March 2020. The global market bariatric surgery, implants and cosmetic procedures will remain particularly vulnerable as these procedures are not urgent and can be delayed without significant impact on quality. life.
Medical Loupe Market – Competitive Ratio
The global medical magnifying glass market is highly integrated, and the major players are focusing on innovative product development to expand their product portfolios and regional footprints. Currently, market participants are investing in R&D activities in search of cutting-edge technologies.
Inquiry before purchase
- Is this research conducted by Future Market Insights? Yes, the research was conducted by expert analysts at Future Market Insights with a combination of primary and secondary research. Contact a research analyst to learn more about how research is conducted.
- What research methodology does FMI follow? FMI follows a methodology that encompasses demand-side assessment of the market and triangulates it through supply-side analysis. This methodology is based on the use of standard market structures, methods and definitions.
- Who are the respondents in the primary study? FMI speaks to a wide range of stakeholders, including senior management, distributors, product manufacturers, and industry experts. Contact us for a complete list of key respondents.
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